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AQuietNight
Sean Foo
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Comments by "AQuietNight" (@AQuietNight) on "China ANGERS The West - We Won’t Destroy Our Economy For You" video.
@gelinrefira "Sean literally just told you exactly how the Chinese government policies are saving their people and promoting prosperity for all." If you are not drowned like a rat from Chinese flood controls. Official policy is China has no floods, just occasional rare 100 year floods every 5 years or so.
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Xi Jinping's economic polices can be erratic and undependable.
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Maintaining trade with China is more a political thing and not good economics. Looking at the trade deficits the U.S. is doing a massive capital transfer to China with the benefit only to a few industries while causing a slow decay with in the rest of the country. The only reason the economy still works is because of massive credit card usage. China needs the U.S. and Europe more than they need China. Both the U.S. and Europe can go back to making toasters. While they may not be as cheap, the earned money will remain and circulate within those countries. If you look at the whole picture, cheap items from China cost a fortune over the long term.
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China runs a trade surplus with all 3 countries. China would be throwing billions of dollars away not to mention the job loss that comes with it. On the other hand, that would be billions of dollars that remain in those countries that could be used to invest in industry and infrastructure.
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The Chinese economy is not in great shape.
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The U.S. government made a profit from the bank bailouts.
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